民和股份（002234）公告，预计2025年1月1日至2025年6月30日归属于上市公司股东的净利润亏损2亿元 —2.3亿元，扣除非经常性损益后的净利润亏损2.07亿元—2.37亿元，基本每股收益亏损0.57元/股—0.66 元/股。公司主营产品商品代鸡苗和鸡肉产品销售价格较低，亏损增加，且期末对存在减值迹象的父母 代种鸡、种蛋等相关资产计提资产减值。 ...

Sales Performance - In June 2025, the company sold 24.32 million chick seedlings, representing a year-on-year increase of 10.58% and a month-on-month decrease of 4.00% [2] - The sales revenue for the same period was 50.79 million yuan, showing a year-on-year increase of 4.54% but a month-on-month decrease of 28.58% [2] Guarantee Matters - The company approved a guarantee of 1 billion yuan for its subsidiaries' financing needs, with mutual guarantees among subsidiaries totaling 50 million yuan [7] - Recent progress includes the company providing guarantees for various loans and financial instruments for its subsidiaries, including a 10 million yuan loan for Weifang Minhe Food Co., Ltd. and a 3.8 million yuan loan for Penglai Minhe Food Co., Ltd. [9][10] - As of the announcement date, the total amount of guarantees provided by the company and its subsidiaries was 57.14 million yuan, which is 2.83% of the company's latest audited net assets [17]

证券代码：002234 证券简称：民和股份 公告编号：2025-036 山东民和牧业股份有限公司 关于担保事项的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、担保基本情况 全资子公司蓬莱民和食品有限公司在青岛农村商业银行股份有限公司烟台 分行蓬莱支行办理银行承兑汇票业务，金额3,400万元（期限半年），公司根据之 前签订的《最高额保证合同》为该笔业务提供2,040万元连带责任保证，期间为 最后一期融资项下债务履行期限届满之日起三年。 全资子公司蓬莱民和食品有限公司与烟台银行股份有限公司蓬莱支行签订 《流动资金借款合同》，贷款3,800万元（期限一年），公司与烟台银行股份有限 公司蓬莱支行签订《最高额保证合同》为其提供连带责任保证，保证期间为债务 履行期届满之日起三年。 全资子公司蓬莱民和食品有限公司与中信银行股份有限公司烟台分行签订 《人民币流动资金贷款合同》，贷款3,900万元（期限一年），公司根据之前签订 的《最高额保证合同》为其提供连带责任保证，保证期间为债务履行期届满之日 起三年。 全资子公司蓬莱民和食品有限公司在兴业银行股份有限公司烟 ...

山东民和牧业股份有限公司 证券代码：002234 证券简称：民和股份 公告编号：2025-035 请广大投资者理性投资，注意投资风险。 特此公告。 山东民和牧业股份有限公司董事会 二〇二五年七月十二日 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、2025 年 6 月份商品代鸡苗销售情况 山东民和牧业股份有限公司（以下简称"公司"或"本公司"）2025年6月销 售商品代鸡苗2,431.99万只，同比变动10.58%，环比变动-4.00%；销售收入 5,078.51万元，同比变动4.54%，环比变动-28.58%。 二、特别提示 1、上述披露仅代表公司商品代鸡苗销售情况，其他业务的经营情况不包括 在内。鸡苗产品销售价格变动幅度和频次较大，其价格变动直接会对公司的经营 业绩产生影响。 2025 年 6 月份鸡苗销售情况简报 2、上述数据均未经审计，与定期报告披露的数据之间可能存在差异，仅作 为阶段性数据供投资者参考。 ...

Investment Rating - The report maintains an "Increase" rating for the agricultural sector [5] Core Views - The report emphasizes the need to combat "involutionary" competition and optimize pig production capacity, as highlighted in the recent meeting of the Central Financial Committee [1][17] - The overall pig farming industry is currently profitable, with self-breeding and self-raising models showing increased profits [18][23] - The poultry sector is experiencing price declines, particularly in broiler chickens and chicken seedlings, indicating a potential for price recovery in the future [19][36] Summary by Sections Agricultural Data Tracking - The national average price for lean meat pigs is 14.82 CNY/kg, up 3.9% from last week, while the average wholesale price for pork is 20.58 CNY/kg, up 1.7% [21][22] - The average weight of pigs for slaughter has decreased to 90.05 kg, down 0.6% week-on-week [26] - The price of 15 kg piglets has decreased to 36.77 CNY/kg, down 1% from last week [29] Pig Farming - The average profit for self-breeding pigs is 119.72 CNY/head, an increase of 69.48 CNY/head from last week, while the profit for purchased piglets is -26.26 CNY/head, an increase of 105.45 CNY/head [23][24] - The report suggests monitoring the impact of recent policy changes on pig prices and inventory behavior [18] Poultry Farming - The average price for broiler chickens is 6.75 CNY/kg, down 3.7% from last week, and the average price for chicken products is 8.45 CNY/kg, down 1.2% [36] - The price for broiler chicks has dropped to 1.36 CNY/chick, down 20% from last week [31] Crop and Agricultural Products - The approval of genetically modified varieties is expected to lead to commercial sales, with potential growth opportunities for industry companies [19] Livestock Support - The report notes increased price volatility in agricultural products, with leading feed companies likely to replace smaller competitors due to their advantages in procurement and scale [19]

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The industry is entering a consumption off-season, leading to potential short-term pressure on chicken prices [5][15] - The supply of breeding chickens remains sufficient, with high inventory levels in the market [15][16] - The impact of avian influenza is mixed, with Brazil declaring an end to its outbreak while the U.S. continues to face challenges [16][19] Summary by Sections 1. Consumption Trends - White feather chicken prices remained stable in May 2025, with an average selling price of 7.41 yuan/kg, showing a slight decrease of 0.01 yuan/kg month-on-month [15] - Yellow feather chicken prices weakened due to reduced holiday demand, with an average price of 10.63 yuan/kg in May, down 4.06% month-on-month [28] - Egg prices are expected to decline further in June due to weak terminal consumption and high supply pressure, with the wholesale price of eggs at 5.94 yuan/kg, down 15.14% month-on-month [35][36] 2. Breeding Chicken Sales and Prices - In May, the sales volume of white feather chicken chicks was 429 million, an increase of 0.16 million from the previous month [16] - The sales volume of yellow feather chicken chicks reached 6.57 million sets, up 10.98% month-on-month [28] - The average price of white feather chicken chicks was 3.07 yuan/chick, reflecting a month-on-month increase of 0.18 yuan/chick [39] 3. Financial Performance of Key Companies - Yisheng shares reported a sales volume of 56.61 million chicks in May, with a revenue of 174 million yuan, reflecting a month-on-month increase of 23.05% [39][41] - Minhe shares saw a sales volume of 25.33 million chicks, with a revenue of 71 million yuan, up 4.10% month-on-month [43][45] - Xiaming shares experienced a decrease in sales volume to 23.25 million chicks, with a revenue of 101 million yuan, down 8.40% month-on-month [46] 4. Price Trends in Chicken Meat - The average price of white feather chicken meat decreased by 1.80% month-on-month, with sales revenue of 423 million yuan in May [47] - The average price of yellow feather chicken meat also saw a decline, with sales revenue of 249.5 million yuan [56][58] - The overall trend indicates a downward pressure on chicken meat prices due to seasonal factors and supply dynamics [5][15][28]

山东民和牧业股份有限公司 关于担保事项的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、担保基本情况 山东民和牧业股份有限公司（以下简称"公司"或"本公司"）于2025年3月 27日召开董事会审议通过《关于合并报表范围内担保的议案》，并提交公司2024 年度股东会审议通过，具体为：本公司为子公司融资提供担保，担保额度10亿元； 同时子公司为本公司融资提供担保，担保额度10亿元；子公司之间互相提供担保， 担保额度0.5亿元。以此来满足公司经营的资金需求。担保范围包括但不限于申 请银行借款、银行承兑汇票、融资租赁、信用证、保函等融资业务，担保方式包 括但不限于一般保证、连带责任保证、抵押、质押等方式。公司于2025年年度股 东会召开前任一时点为子公司提供的担保余额将均不超过该等额度。 证券代码：002234 证券简称：民和股份 公告编号：2025-034 具体内容详见2025年3月29日公司披露于巨潮资讯网www.cninfo.com.cn、 《中国证券报》、《上海证券报》、《证券时报》、《证券日报》上的《关于合并报表 范围内担保的公告》（公告编号： ...

证券代码：002234 证券简称：民和股份 公告编号：2025-033 山东民和牧业股份有限公司（以下简称"公司"或"本公司"）2025年5月销 售商品代鸡苗2,533.31万只，同比变动10.58%，环比变动5.85%；销售收入 7,110.56万元，同比变动0.65%，环比变动4.10%。 二、特别提示 1、上述披露仅代表公司商品代鸡苗销售情况，其他业务的经营情况不包括 在内。鸡苗产品销售价格变动幅度和频次较大，其价格变动直接会对公司的经营 业绩产生影响。 2、上述数据均未经审计，与定期报告披露的数据之间可能存在差异，仅作 为阶段性数据供投资者参考。 请广大投资者理性投资，注意投资风险。 山东民和牧业股份有限公司 2025 年 5 月份鸡苗销售情况简报 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、2025 年 5 月份商品代鸡苗销售情况 特此公告。 山东民和牧业股份有限公司董事会 二〇二五年六月七日 ...

Group 1 - The core point of the article is that Minhe Holdings (002234) reported an increase in the sales of broiler chicks and sales revenue for May 2025, indicating a positive trend in performance [1] - The company sold 25.33 million broiler chicks in May 2025, representing a year-on-year increase of 10.58% and a month-on-month increase of 5.85% [1] - The sales revenue for the same period was 71.11 million yuan, showing a year-on-year increase of 0.65% and a month-on-month increase of 4.10% [1] Group 2 - The article highlights that the price fluctuations of chick products are significant, and these changes directly impact the company's operational performance [1]

Group 1 - The China Livestock Breeding Index (930707) increased by 0.05% as of May 27, 2025, with notable gains from companies such as Ruip Bio (300119) up 1.68% and Yike Food (301116) up 1.44% [1] - The Livestock ETF (516760) rose by 0.16%, with a latest price of 0.63 yuan, and has accumulated a 0.64% increase over the past two weeks [1] - The Livestock ETF has shown a net value increase of 3.27% over the past six months, with a maximum single-month return of 17.22% since its inception [1] Group 2 - Sichuan Province has drafted ten measures to promote high-quality development in the livestock industry, focusing on strengthening leading enterprises and supporting their participation in large-scale projects [2] - The measures aim to enhance the capabilities of leading livestock enterprises to drive the development of farms and households [2] Group 3 - Short-term pig prices are expected to remain stable, with a balanced supply-demand situation anticipated in the second half of the year, leading to a more optimistic outlook for pig price expectations and profitability of pig enterprises [3] - Current pig prices allow for slight profitability for breeding enterprises, but the industry faces challenges in capacity reduction, with cost competition becoming a key focus [3] Group 4 - As of May 26, 2025, the Livestock ETF has experienced a maximum drawdown of 5.00% this year, with a management fee of 0.50% and a custody fee of 0.10% [5] - The Livestock ETF tracks the China Livestock Breeding Index, which has a current price-to-earnings ratio (PE-TTM) of 12.33, indicating a historical low valuation [5] - The top ten weighted stocks in the China Livestock Breeding Index account for 69.38% of the index, with companies like Haida Group (002311) and Muyuan Foods (002714) being the largest contributors [5]